ExodusPoint Capital Management LP Purchases Shares of 25,724 Viridian Therapeutics, Inc. (NASDAQ:VRDN)

ExodusPoint Capital Management LP acquired a new position in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 25,724 shares of the company's stock, valued at approximately $493,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in VRDN. Lord Abbett & CO. LLC bought a new position in Viridian Therapeutics during the 3rd quarter worth approximately $8,917,000. JPMorgan Chase & Co. lifted its stake in Viridian Therapeutics by 218.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 400,351 shares of the company's stock valued at $9,108,000 after acquiring an additional 274,641 shares in the last quarter. Barclays PLC boosted its position in Viridian Therapeutics by 113.1% during the 3rd quarter. Barclays PLC now owns 125,397 shares of the company's stock worth $2,851,000 after acquiring an additional 66,550 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Viridian Therapeutics by 1,603.4% during the 3rd quarter. Principal Financial Group Inc. now owns 172,810 shares of the company's stock worth $3,931,000 after acquiring an additional 162,665 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Viridian Therapeutics in the third quarter valued at approximately $660,000.

Wall Street Analyst Weigh In

Several research firms recently issued reports on VRDN. Wells Fargo & Company reissued an "equal weight" rating and issued a $27.00 price target (down previously from $37.00) on shares of Viridian Therapeutics in a research report on Thursday, December 19th. Needham & Company LLC reissued a "buy" rating and issued a $38.00 price objective on shares of Viridian Therapeutics in a research note on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $35.70.

Viridian Therapeutics Stock Up 3.8 %

Viridian Therapeutics stock traded up $0.48 during trading hours on Friday, hitting $13.13. 803,097 shares of the stock traded hands, compared to its average volume of 1,202,434. The company has a current ratio of 18.55, a quick ratio of 18.55 and a debt-to-equity ratio of 0.04. Viridian Therapeutics, Inc. has a one year low of $9.90 and a one year high of $27.20. The company has a market cap of $1.07 billion, a PE ratio of -3.05 and a beta of 0.81. The firm's 50-day moving average price is $14.65 and its two-hundred day moving average price is $18.69.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.81) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.05) by $0.24. Viridian Therapeutics had a negative net margin of 85,127.16% and a negative return on equity of 70.12%. The company had revenue of $0.07 million during the quarter, compared to analyst estimates of $0.05 million. On average, research analysts forecast that Viridian Therapeutics, Inc. will post -4.03 EPS for the current year.

About Viridian Therapeutics

Viridian Therapeutics, Inc, a biotechnology company, discover and develops treatments for serious and rare diseases. The company's product pipeline includes VRDN-001, a monoclonal antibody targeting insulin-like growth factor-1 receptor that is in Phase 3 clinical trial for the treatment of thyroid eye disease (TED); and VRDN-003, a next generation IGF-1R humanized monoclonal antibodies targeting IGF-1R and incorporating half-life extension technology for the treatment of TED.